TT reorganizes into six business lines to address buy-side and brokers multi-asset needs

Trading Technologies International, Inc. (TT), has announced the introduction of two novel business lines, TT Compliance and TT Quantitative Trading Solutions (QTS). These initiatives are aimed at expanding the company’s influence in new asset classes.

This strategic move is an extension of TT’s existing strengths, further enhanced by their recent acquisitions, namely Abel Noser Solutions in August 2023 and RCM-X in March 2022.

TT’s introduction of these two new units is part of a larger reorganization into six distinct business lines, each aimed at addressing specific multi-asset needs. These include TT Futures & Options, TT Fixed Income, TT FX, TT Data & TCA, TT Compliance, and TT QTS, each led by industry experts. All business line leaders will report to Justin Llewellyn-Jones, who will join TT as COO on January 1.

Nick Garrow, transitioning to the role of Chief Revenue Officer on January 1, will oversee revenue generation across all units and regions, focusing on tailored strategies for each business line and client segments in the Americas, EMEA, and APAC regions.

TT Compliance

This new business line is set to capitalize on TT’s established TT Score trade surveillance, originally designed for exchange-traded derivatives, and Abel Noser’s Compliance+ solution, predominantly utilized for U.S. equities.

Furthermore, TT is collaborating with KRM22 plc, a company focused on risk management in capital markets, to develop a multi-asset class surveillance platform, which is expected to be launched in the second quarter of 2024. Ted Morgan, previously the Chief Operating Officer of Abel Noser, will head TT Compliance starting January 1.

Keith Todd, CEO of TT, highlighted the increasing importance of stringent compliance and trade surveillance across various asset classes in response to global regulatory pressures. “Sound compliance and robust trade surveillance are must-haves and only growing in importance across asset classes as regulators around the globe are imposing significant fines and holding firms accountable for the actions of their people. We see a tremendous opportunity to both capture new business and provide a second line of defense for clients who already rely on our technology for their trading-related needs.”

TT Quantitative Trading Solutions (QTS)

Following TT’s acquisition of RCM-X, the company has enhanced its quantitative trading solutions. This includes the introduction of TT Premium Order Types last year, featuring advanced algorithmic execution strategies based on RCM-X’s technology. Joe Signorelli, who was the Managing Director of RCM-X and its CEO before the acquisition, will lead TT QTS.

This business line will offer a comprehensive suite of multi-asset algorithmic trading tools, including solutions for fixed income trading, starting with U.S. Treasuries. TT is also set to integrate START, a trade optimization platform from Abel Noser LLC, into the TT platform as part of TT QTS.

Todd underlined the expertise of the TT QTS team. “We are calling the new business line QTS to underscore that our team is not just developers building algos. These professionals are experts in data science and analytics, along with trading and risk management in multiple asset classes, on top of their coding and development skills. We’re excited to further expand into new asset classes and bring our award-winning tools to a broader user base as we continue to grow our multi-asset offering.”